Your company, Harris Halo Products, has won funding from Shark… Your company, Harris Hal

Your company, Harris Halo Products, has won funding from Shark… Your company, Harris Halo Products, has won funding from Shark Tank.  Your team manufactures one product.  Its variable manufacturing overhead is applied to production based on direct labor-hours and the standards per unit are as follows: Direct materials per unit:  15 pounds at $20 per poundDirect labor per unit: 5 hours at $15 per hourVariable overhead: 5 hours at $12 per hour Budgeted Fixed advertising expenses:  $8,500Budgeted Fixed sales expenses:  $21,000Budgeted Fixed shipping expenses:  $27,000 The planning budget for August 2022 was based on producing and selling 5,000 units.  However, during August the company actually produced and sold 4,900 units, at a selling price of $475 per unit, and incurred the following costs:   Purchased 72,000 pounds of direct materials at a cost of $21 per pound. All of this material was used in production. Direct laborers worked 26,000 hours at a rate of $16.00 per hourTotal variable manufacturing overhead for the month was $290,000ACTUAL costs:  Total fixed advertising expenses were $9,000. Total fixed sales expenses were $20,000.  Total fixed shipping expenses were $26,000.   Answer the following, showing all formulas and computations: Variance analysis (18 & 19):Using only the data given in the problem above, prepare variance analysis report similar to the one shown on page 419 in the text (Actual Results versus Flexible).    EXAMPLE ON PAGE 419 BELOWImage transcription textrevenue and spending variances for April appear below: Harrald’s Fish House Revenue and SpendingVariances For the Month Ended April 30 Revenue (1) and Spending (2) Actual Variances Flexible Results (1) -(2) Budget Meals served 1,700 1,700 Revenue ($16.50q) *$27,920 $130 U $28,050 Expenses: Co… Show more… Show more  Accounting Business Managerial Accounting BSE MISC Share QuestionEmailCopy link